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White House may replace Yellen and Deese after the midterms: Axios

White House may replace Yellen and Deese after the midterms: Axios

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Treasury Secretary Janet Yellen may leave her post after November’s midterm elections, Axios first reported, without citing a specific source.

The White House did not confirm that Yellen and National Economic Council Director Brian Deese are expected to leave the administration.

In May, Yellen cited the collapse of TerraUSD in support of new stablecoin legislation; However, he has generally shown moderation in terms of crypto regulatory guidelines.

Deese, who spoke this month about the benefits of working with the digital asset community to reduce risk and harness the benefits of digital assets, has drawn criticism as the Biden administration ramps up enforcement efforts.

Yellen, who has served as Treasury secretary since January 2021, has not indicated plans to leave the administration, the spokesman said.

© 2022 The Block Crypto, Inc. All rights reserved. This article is for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.

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